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connell is at the capitol and assuming he's in contact with harry reid and their staffs are going back and forth. the question has been every single day we've been into these negotiations. what is the threshold that republicans are willing to take to avert the fiscal cliff. there's their 400,000. so everyone who makes $400,000 their taxes would stay the same. would that be acceptable. if there is no deal to be reached we do know that harry reid will try to move forward on monday with the bill for those making $250,000 or below. so that's what we need to see how it will work there. there are types of sweeteners they can do. mitch mcconnell is a tough place and this is the underreported part of the story. he has to figure out a deal that gets through the senate and doesn't make john boehner look too bad in the house and there are a lot of conservatives in the house that don't want to do any type of deal that would raise taxes on anybody even though they'll go up on the entire country the first tax hike in 20 years after monday night. >> and one would also assume that mitch mcconnell would have to
assume harry reid is here and their staffs are going back and forth. i spoke to one aide who said don't expect for any details to leak tonight. they'll be closed-lipped about this because the idea if anything does leak out it gives more of an opportunity for folks on either party to kill a deal if they don't like what they hear. some sort of a agreement will be announced tomorrow when the house is back in session and the senate is back in session and they can go back to say hey, this is the best opportunity. as far as the likelihood of this kraig, things have not been going well and there's optimism here and there and things are fluid like kristen says and it will be the final deal, but what we do know is these folks on capitol hill are very mindful of the damage that can be done to the economy if nothing is brief. we've had five down days in the stock market and we're preparing the country on tuesday for the first tax increase in 20 years, and i think finally at the end, that's starting to resonate at least with some of the elder members of both sides hence why we're even here on a s
leader harry reid says the u.s. is probably going over the fiscal cliff. he's planning a news conference. we don't have the exact time. when it goes, we'll go there. investors getting quite nervous. obviously the dow dropping below 13,000. the first time since early december. fear index is spiking the vick. what going over the cliff will mean for you and your money. we will talk about it this hour. >>> airline stocks flying high sitting at 1 1/2 year highs. will it be smooth skies for the industry next year in 2013. phil lebeau has the report. >>> how about housing? what a story housing has been this year. a milestone. home prices on track for their first year-over-year gain since 2006. is the worst finally over? some say yes, others say no. what does michelle caruso-cabrera say. >> tyler, let's drill down to the numbers you were talking about. only four hours to go until america goes over the fiscal cliff. the dow jones industrial average down 113 points. had been down 148 points. look at that as we come on the air back above 13,000 level, not by much. the nasdaq, the biggest decline. 3
:00 a.m. yesterday, senate leader harry reid said he didn't think the fiscal cliff could be avoided. as you can see, stocks plunged. shortly after noon, senator scott brown posted on facebook of all things that he was headed back to washington because the president had reached out to the gop leadership with a proposal. then the markets bounced up a bit. but then cnbc's john harwood tweeted the white house denied skost brown's post and markets dropped again. thanks, john, for that. then came a late day surge on news that speaker boehner called the house back to washington, and late today we learned that the white house is holding a conference call with ceos on the status of the fiscal cliff negotiations. so maybe things will change once more again tomorrow. joining me now to discuss the business ramifications and what the markets think of all this, the editor of thegrio.com and msnbc contributor joy reid. >> hey, richard. >> hi, joy. do we also have fortune magazine's assistant, yes, excellent, managing editor, leigh gallagher. thanks for joining us, too. wall street seems to have be
republicans. late today on the senate floor majority leader harry reid said what has become more and more obvious. the prospect of reaching a deal to avoid the fiscal cliff before january 1st is very unlikely. that's putting it lightly. let's watch. >> there's 435 members of the house. what goes on in this country shouldn't be decided by the majority. it should be decided by the whole house of representatives. the speaker just has a few days left to change his mind, but i have to be very honest, mr. president, i don't know timewise how it can happen now. >> well, that was plain. this afternoon senate minority leader mitch mcconnell said he wasn't willing to offer the white house a blank check just because we're on the edge of the cliff. take a look. >> last night i told the president we'd be happy to look at whatever he proposes, but the truth is we're coming up against a hard deadline here, and as i said, this is a conversation we should have had months ago. and republicans aren't about to write a blank check for anything senate democrats put forward just because we find ourselves at the
and do that. is there any chance he will before monday? >> i think there's a chance if harry reid and mitch mcconnell can blink together, they can come to agreement to bring something to the floor and move forward, then and only then will they blink but both have to hold hands and jump into the pool at the same time. >> but mitch mcconnell is worried about, what, ashley judd running against him. what is he really worried about? i'm just kidding because he's not worried about the general election. he's worried about a primary election like a rand paul. >> and a the other -- >> by the way, he is from rand paul's state. it's possible. >> he is. the other thing to keep in mind is boehner's speakership vote is up on january 3rd. >> but you -- everybody keeps saying that but to vote against the speaker who is the caucus nominee, let's face it, he is the nominee of the republican party, to not vote for the speaker is a major act of betrayal on the part of any member of the congress. you have to that day -- >> the idea if he goes and forces through a tax increase, they could express their
being sent up to the hill today. harry reid, the senate majority leader, also denied that any such thing was taking place today. both of those denials do also come against the backdrop of the fact both sides acknowledged this is not something they plan to litigate in public and underscores the real challenges that do exist, craig, now with barely 100 hours until the fiscal cliff deadline. two sides made it very clear. john boehner couldn't pass with house republicans the idea of raising taxes only on those making more than a million dollars. the president has insisted throughout that $250,000 had been his limit. it's bumped up to $400,000. but even when they were within just a couple hundred billion dollars, which seems like a lot to you and me but it is not a lot in the language of washington, then they went opposite directions an enwhere the political particular sis stands at this moment. >> all right. peter and alexander, thank you good sir. joining me now karen bass of california. congresswoman, good to see you and nice to see you there from the capitol. you are still in california b
going on right now, though the action is with the senate majority leader harry reid, minority leader mitch mcconnell trying to put together some alternative package that could in fact make its way through both houses. after they met with the president on friday, they sounded cautiously optimistic. here's what they had to say. take a listen. >> we'll be working hard to try to see if we can get there in the next 24 hours. and so i'm hopeful and optimistic. >> i'm going to do everything that i can. i'm confident senator mcconnell will do the same. but everybody, this is whatever we come up with is going to be imperfect. >> and t.j., there's a lot of pressure on lawmakers and on the president to get something done. we've already seen the markets impacted by this. a lot of americans have just expressed frustration and concern over what's going to happen to their tax rates in the new year if in fact lawmakers can't get a deal. so there's a lot of public pressure to get something done on this. and of course, time is really running out. t.j.? >> kristen welker for us at the white house. than
is what has to happen. mitch mcconnell and harry reid have to come to agreement. by tomorrow, possibly. have something they can vote on in the senate tomorrow night or possibly even monday. send it to the house of representatives where the president says the house speaker john boehner should put it on the floor, regardless if it gets the majority of the majority. that's the traditional way of doing things. the president said if any of the process fails, any of the steps along the way we outline, a senate agreement, vote in the senate, moving to the house, if it fails, the president wants a basic bill on the floor that sets those income levels at $250,000 above, to have everyone have their taxes rice rice. a lot of ifs and but, a flurry of last-minute activity, focused on the congressional leaders in the wes wing of the white house. >> like you said it will take a badda bing, badda boom to get this done. >>> joining me now is ed o'keefe and staff writer for "roll call," jonathan strong. thank you, both, for being here. i want to listen to more of what the president said on friday. i'll
are still pretending to work. >> people don't like congress. >> it is up to the senate to act. >> harry reid is working on legislation. >> harry reid, the congress and the president. >> the president is cutting his hawaii vacation short to deal with the fiscal cliff. >> really, it's kind of like falling down stairs. we have a dysfunctional congress. >> speaker boehner needs to bring his party along. >> it's pretty clear that he could not bring them along. >> john boehner doesn't seem to have full control of his caucus. >> they were this close. >> the republicans will be blamed. >> they were this close to a solution. >> we're going to head over that cliff. >> i know it's hard for the republicans. the minute those leaders move forward, they get viscerated. >> guns shouldn't be available for anyone, any time, anywhere. >> the conversation still wages on. >> its plan to add more guns to schools. >> a completely dumb-ass idea. >> i don't think the nra is listening. >> you can call it whatever you want to call it. >> congress hasn't confirmed the director of the bureau of alcohol, tobacco and fire
on december 31st. senate majority leader harry reid is working to see if the scaled backpackage the president laid out last week can get through congress before monday. meantime, treasury secretary timothy geithner says the government will hit the debt ceiling on monday and he is launching an emergency plan to avert a crisis. amm eamon javers is live. what do we know? >> the president is coming back early, a couple days earlier than his vacation. did a little bit of jogging, working out in the gym over his vacation. now he will be,ing would out on this fiscal cliff. the senate is coming back and the house of representatives is going to have a conference call for all republicans later on today and then yesterday, we saw the secretary of the treasury, tim geithner, announced the $16.4 trillion debt limit is going to be reached by monday, that was a little bit surprising to people who haven't been following this kind of thing and raises the stakes for the fiscal cliff end game because the white house had wanted a debt ceiling deal as part of the overall deal here on the fiscal cliff. republicans
conference, it came after president obama met with john boehner and nancy pelosi and harry reid and mitch mcconnell, so all the key congressional leaders. and listen to the president here. >> the american people are watching what we do here. obviously, their patience is already thin. this is deja vu all over again. america wonders why it is that in this town for some reason, you can't get stuff done in an organized timetable. why everything always has to wait until the last minute. well, we're now at the last minute. and the american people are not going to have any patience for a politically self-inflicted wound to our economy. not right now. i just have to repeat. you know, outside of washington, nobody understands how it is that this seems to be a repeat pattern, over and over again. ordinary folks, they do their jobs. they meet deadlines. they sit down and they discuss things and things happen. if there are disagreements, they sort through the disagreements. the notion that our elected leadership can't do the same thing is mind boggling to them. and needs to stop. >> i just have to repea
the focus shifts to the senate. senate majority leader harry reid, minority leader mitch mcconnell will have to try to hammer out some sort of a compromise to avoid going over the cliff, but as you pointed out in your introduction, a lot of senators over the weekend expressed concern that, in fact, we will go over the fiscal cliff. of course, if is that happens, the economy could eventually slip back into recession. one interesting point, thomas, though, last time that members of congress worked between christmas and new year's was 1996. that was during the government shutdown. this is really a rare occurrence for members of congress to have to come back and work out legislation that they went able to get done before the christmas holiday. >> the president is supposed to stay there for how long? >> well, of course, the white house not really giving us specifics about the president's travel plans at this point in time. the reality is i think the president is himself trying to figure out what he is going to do, but we do expect that he will cut his vacation short. you've heard the president hi
standpoint right now. asking harry reid to ask and president obama to act. >> harry reid's his lifeline. let me ask you this. everybody watches politics. this isn't cnbc here, it's politics. let's get a couple things straight. you say right now that today it's a democratic advantage. obama looks like the guy is trying to get it done. republicans are the holdouts. >> it's not just me. look at the gallup reports. republicans have been going down. >> obama's 54%. right now it's a democratic advantage. >> democratic advantage right now. >> midnight monday still a democratic advantage? >> no. if you go over the cliff, everyone's in trouble. >> wednesday morning next week which is only a week away and we're into 2013 and no deal's been made, do you accept the fact that both guys are in trouble? >> i think it's a jump ball. i'm not sure what happens at that point. it depends on what the markets do. we'll say this. president obama doesn't have to worry as much as the members of congress do because he's not on the ballot again. >> but if there's a second recession, doesn't that kill his second term?
with the president, the democratic leader in the senate, harry reid, and the republican leader mitch mcconnell have come together and they have saved the day. they did it again and again. it happened in 2010, when mitch mcconnell actually worked with joe biden to extend the bush tax cuts and they got a bunch of stimulus passed. it happened in 2011 when reid and mcconnell were key in resolving the debt ceiling fight. and people thought it could happen again this time. what's different now is mitch mcconnell is up for re-election. and it is weird to say this aloud, what i'm about to tell you. i have never even thought about how weird it is to say until tonight's broadcast. but the person mitch mcconnell has in his head right now, the person he's maybe a bit afraid of, is ashley judd. yeah. that ashley judd. >> don't cry. don't cry. you're going to be fine. >> okay. >> mitch mcconnell's up for re-election potentially against ashley judd. she might be running against him. and she's polling well. they're only about four points apart. so he doesn't want any trouble. he certainly does not want a conservat
to shrink and it's less likely. we are told that senator harry reid is gaming how many republicans would vote for a mini deal and most likely extend the tax rates and those making $250,000 or less. obviously anything that goes forward, they will want to be law. they don't want to do that. he wanted to make sure he can become law. it's unclear whether that could happen right now. where we sit today, days out, the smart money is on us and gives republicans the ability to say we never voted for a tax increase. through congress they put a bill on the floor for 250 and below to pass that to save face. what would that do to the economy? we don't know. the result from that could purr action. >> we spent a lot of time about the tax rates. we haven't talked about the payroll tax. they go up. any idea whether this temporary deal would address those matters as well or is it going to focus on the tax rates and the spending cuts? >> one thing is an extension of unemployment insurance and millions of americans collect unemployment insurance. democrats see it as dimilative for the economy. they buy gro
in the senate. no one believes that john boehner will take that leap holding the hands of harry reid or mitch mcconnell, for that matter. the preponderance of opinion, the overwhelming belief and suspicion, however you want to phrase it, here in the capitol and downtown on k street is going over the cliff. only question now is how many days to extend past january 1st before they come back and do something about this, toure. >> yeah. well, mike just picking up on that point then, i guess that's the republicans all of their actions and pronouncements indicated that this, the timing and the sequence of this really matters to them in terms of, look, all the bush rates expiring on january 1st and doing anything before january 1st it's construed as a tax hike and believing the bush rates intact and then calling it a tax cut and seems to matter to them and completely share the skepticism to sign off on anything you're talking about but from the democratic perspective, the reporting s suggests obama putting on the table is 250 refundable. like that would be included, too. unemployment insurance. the doc
enough votes, so essentially everything shifts right now to the senate. so harry reid, mitch mcconnell, nancy please elosi on the house to say here are the number of democrats i could get if you offer a compromise package. but this is really a tough situation because there's so little time left and we've already seen the markets impacted by this. so if we do go over the cliff, if you look at the polls, most americans saying republicans will bear the brunt. they will blame republicans, but the bottom line is the president will get a lot of blame as well because this is going to impact a lot of people. >> right. nbc's kristin welker keeping us honest at the white house. we will stand by. thank you. >> reporter: thank you. >>> joining us for analysis are two of my favorite guys, both former chairs of the democratic committee, pk to you both. >> karen. >> thanks, karen. >> governor rendell, i'm going to start with you, what do you make of this meeting? to some degree -- do we really expect we're going to get some substance out of this meeting or is this more for the optics so both s
. nothing is stirring, not even harry reid. yes, i'm still in the christmas spirit. the president meanwhile is in hawaii and won't be returning until tomorrow. now, normally nothing happening would not be big news in washington. nothing happening is kind of the status quo in washington. getting nothing done is to our political system as saying great is to tony the tiger. it's just kind of what we do now. right now, this week, nothing happening is huge news. the reason is that usually when washington doesn't do anything nothing happens. you do nothing, nothing happens. that's how it goes. in fact that's why people call it doing nothing. after you do it, nothing occurs. if washington doesn't do something, a lot happens. all the bush tax cuts expire, the payroll tax cuts expire. doctors participating in medicare, see their reimbursements cut by more than 25%. good luck getting a doctor then. more than a trillion dollars in spending cuts are triggered. the economy probably falls back into recession, and merry christmas and happy new year from washington to you, the american people. this basket
is in washington with a question for you. >> if mitch mcconnell can cut a deal with harry reid will house republicans meet it. >> thehouse reps were opposed to the deal that their own speaker put forward. it was a deal that he didn't reach with the president. tc it was a deal he thought would appeal to house republicans, can she voted no on that. that gets me back to the original people. whatever deal is reached, speaker bayne has to allow the house to vote on it. a lot of people don't realize he's blocking a vote in the house. he's not allowed the majority in the house to take up and pass a bill. instead he implemented this artificial rule that says he won't allow a vote on a he proposal unless at least half of the republicans are in favor of it. when you do that you hand over the keys to the most extreme part of the republican party. that's why harry reid said what he did. because we're not asking for a guardi guarantee this bill pass. we're asking for a vote that it passed the senate to provide tax relief to the middle class. >> congressman that phrase you use, simply allow a vote, it
got a glimpse of optimism on the senate floor on friday from majority leader harry reid and minority leader mitch mcconnell following their white house meeting with president obama. here it is. >> everyone knows we've been to the white house. we've had a constructive meeting. we certainly hope that something will positive will come from that. >> i share the view of the majority leader. we had a good meeting at the white house. we are engaged in discussions, the majority leader and myself and the white house in the hopes that we can come forward as early as sunday and have a recommendation that i can make to my conference and the majority leader can make to his conference. >> arthel: so is a fiscal deal more likely now than it was before congress left for christmas break? let's have a meeting of the minds. outreach director for freedom works, author of "backlash" and fox news contributor. and michael, former senior communications advisor to john kerry's presidential campaign and ceo of vent squared communications. long intros for both of you hard work people. i'm going with you first
that the upper chamber produces. senate majority leader harry reid now expected to base any legislation on a bill passed earlier this year to continue tax breaks for households will incomes below $250,000. a senate bill would likely contain an extension of expiring unemployment benefits. and the other big news of the morning, treasury secretary tim geithner unveiling a plan to buy time under the debt ceiling. in a letter to congress, geithner saying that treasury is going to begin taking steps this week to delay hitting the government's 16$16.4 trillion borrowing limit. treasury will take several measures to save that next year to keep the government from reaching the limit for about two months. but geithner warns it is harder to predict how long the delay will last because of all of this ongoing fiscal cliff negotiations making it harder to forecast what revenue and tax spending will be next year. >>> the journal says right here the white house and congressional leaders have shown no signs of progress in the senate or elsewhere. and then, you know, i don't think we've run this bite enough. >> ti
to vote for revenue increases. they say we have this deal harry reid said the senate won't pick up and ask you to vote for revenue increase or tax hike, a lot of republicans will say hell no to that whereas they might vote for the larger deal that stands for a chance of addressing the fiscal cliff. >> congressman, what is the chance we're doing this in february alling to with t ing i together with the debt ceiling and everything combined. >> that is an interesting question. we are talking about the debt ceiling. here, you will see a slight change in style of congress. there is a camp in the republican camp that says let's do nothing until we get to debt ceiling because that re-established our ledge. there is a movement that the president and congress say we're not going to play hostage again where we get downgraded and the country is on a real cliff and not pay our bills. there is a chance democrats look at republicans, say, fine, don't raise the debt ceiling, the fault of the united states of america will be on your shoulders. i hope we don't get that and get the out-line of a deal in com
Search Results 0 to 25 of about 26 (some duplicates have been removed)

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